Rebank: Fintech Analysis

Magnus Larsson is the Founder and CEO of Majority, a digital bank for migrants in the US. As anyone who listens to this podcast knows, digital banks are making headlines all over the world. Some people are beginning to see the market as saturated, with seemingly dozens of offerings vying for consumer spending power. Early results suggest digital challengers are struggling to convert customers at scale or to bank them profitably. We're extremely early in the redesign of the stagnant, centuries old retail banking industry, and we've yet to see much business model innovation. Majority is an early example of what I expect to be a wave of banking offerings rethinking the role banks play in people's lives and the relevant combinations of services to deliver value around money and the experiences it enables. Magnus is a serial entrepreneur with decades of experience in telecom. Prior to launching Majority, he was the CEO of Rebtel, a digital telecommunications company serving migrants in Europe. Magnus brings deep insight into the challenges faced by migrants, including but extending well beyond access to financial services. Majority's launch proposition includes free banking, international calling and remittances all for a low monthly subscription. Banks have been subsidizing checking accounts with lending and fee-generating products for decades. Majority is doing the same with intrinsically linked ancillary services that reinforce community around its offering. For all of our past episodes, and to subscribe to our newsletter, please visit www.bankingthefuture.com. Thank you very much for joining us today. Please welcome, Magnus Larsson.

Today, Rebank co-host Aman Ghei of Finch Capital connects with Wayne Marc Godfrey, founder and CEO of Purely Capital, an entertainment finance platform. Wayne is a prolific film producer and financier, having raised over $300 million and produced over 125 films with over $1 billion in production spend. He recently closed a $150 million facility for Purely Capital from a leading institutional lender. Media and entertainment is one of the biggest industries in the world, grossing over $700 billion annually. Underpinning all those receipts is a web of financing and distribution deals with networks and streaming operators. Aman and Wayne discuss the media financing value chain and why now is the right time to build a finance technology business in this space. They also explore how traditional funders are reacting to changes in production and consumption habits, and more. This is a fascinating conversation about how financial services are interpreted and reinterpreted in other industries, and how rapid technological change in other sectors, in this case media, is impacting innovation in financial services. In addition to the audio version of this podcast, today's conversation is also available on video on our YouTube channel, thanks to LaunchPod studios. Link in description. Thank you very much for joining us today. Please welcome Wayne Marc Godfrey.

Platform banking's role in the growth of fintech can hardly be understated, with companies including Monzo, N26, Revolut, Chime, Acorns, Betterment, MoneyLion and many, many more starting or expanding on top of regulated third-party banking partners. Similarly, the promise of embedded finance, where non-bank brands and consumer experiences deliver banking and other financial services directly to customers is predicated on the availability of platform infrastructure. Platform banking offerings are clearly fit for purpose, right? Far from it. In today's conversation, Aman and I are joined by David Jarvis, founder of Griffin, a seed-stage platform bank in London, to discuss the current state of platform banking, the shortcomings of existing offerings and the role of the next generation of platform banks in delivering the future of finance. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com Thank you very much for joining us today. Please welcome, David Jarvis.

Today we explore the wild and wondrous world of equity primary markets. We're joined by Anand Sambasivan, Co-Founder and CEO of PrimaryBid, Marcus Stuttard, Head of UK Primary Markets for the London Stock Exchange, and Aman Ghei, Principal at Finch Capital. To get the conversation started, former investment bankers Anand and Aman walk us through the quirky and questionable dynamics of investment bank led IPOs and share sales. We then explore alternatives to that model, including direct listings, along with a number of interesting considerations about private vs. public market capital raising, risk taking vs. value capture, preference stacks and more. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com Thank you very much for joining us today. Please welcome Anand Sambasivan, Marcus Stuttard and Aman Ghei.

Richard Gendal Brown is the CTO of R3, an enterprise blockchain company backed by a number of high profile strategic investors. R3 has been working on its Corda platform since the early days of blockchain mania and is now actively supporting projects and implementations in syndicated lending, trade settlement, supply chain management and more. In this conversation, Richard reconciles the early hype around blockchain with the current meaningful real world implementations and describes where early adopters are planning to take the technology. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com Thank you very much for joining us today. Please welcome, Richard Gendal Brown.

Ned Phillips is the Founder and CEO of Bambu, a white-label roboadvisory platform. Backed by Franklin Templeton, among others, Bambu builds roboadvisory offerings for banks, investments firms and other consumer-facing businesses. In this conversation, we discuss the limitations of current roboadvisory offerings, the reasons banks have trouble designing solutions for customers and where the space goes from here. Prior to founding Bambu, Ned was the Managing Director of Asia for E-Trade and brings a decades long perspective on digital investments to this conversation. I'm a firm believer in the power of technology in personal financial management as much as in any other vertical, and we've only just scratched the surface. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com Thank you very much for joining us today. Please welcome, Ned Phillips

Sean Hanafin is the Group President of Greensill, a modern supply chain finance provider that has raised an astonishing $1.5 billion in equity this year alone. Backed by General Atlantic and Softbank, Greensill is aiming to quickly scale its technology-driven supply chain finance offering across the largest markets in the world. On top of that, the company is looking to leverage an approach similar to its B2B financing model to unlock daily salary access for public and private sector employees, ending payday lending forever. With a banking license in Germany, a team of highly experienced senior bankers and aspirations to reimagine the multi-hundred billion dollar global supply chain finance market, it's safe to say this is no ordinary fintech startup. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com

Charlie Delingpole is the Founder and CEO of ComplyAdvantage, a global AML, sanctions screening and transaction monitoring company. Backed by Balderton and Index, the latter of which led a $30-million Series B in the company in January, ComplyAdvantage is scaling beyond financial services to deliver real-time compliance monitoring across industries. We're joined in today's conversation by Aman Ghei, a Principal at Finch Capital, one of the most active early stage fintech funds in Europe and Southeast Asia. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com Thank you very much for joining us today. Please welcome, Charlie Delingpole and Aman Ghei

Kristo Käärmann is the co-founder and CEO of TransferWise, a payments company fighting to break banks' usurious grip on FX and international transfers. TransferWise is one of Europe's greatest fintech success stories, most recently valued at $3.5 billion in a secondary offering earlier this year. The company has nearly 2,000 employees around the world, moves $5.5 billion a month between nearly 100 countries and saves customers over $1 billion a year in fees. In this conversation, Kristo and I discuss the evolution of international payments, how TransferWise helps banks as much as challenges them and how competition will shape the digital banking space. For all of our past episodes, and to sign up to our newsletter, please visit www.bankingthefuture.com. Thank you very much for joining us today. Please welcome, Kristo Käärmann.

Freddy Kelly is the Founder and CEO of Credit Kudos, a UK company redesigning the credit bureau for the modern age. Unhappy with the inaccuracy, opaqueness and questionable data ethics of the traditional model, Credit Kudos is using Open Banking, machine learning and customer consent in an attempt to create a more transparent, more predictive credit scoring system. In addition to the insights we deliver through our podcast and newsletter, Rebank offers advisory services to fintechs, banks and corporates. Drawing on our experience starting, running and advising fintech businesses and our vast network of the most impactful fintech entrepreneurs, investors and innovators around the world, we help companies make sense of fintech, work through specific questions and optimize proposition and strategy.> For more information about our services, please visit www.bankingthefuture.com. Thank you very much for joining us today. Please welcome, Freddy Kelly.